{"id":24,"date":"2025-11-18T20:54:02","date_gmt":"2025-11-18T20:54:02","guid":{"rendered":"https:\/\/new.dev.www.purdue.edu\/ia\/erm\/?page_id=24"},"modified":"2026-02-20T14:20:50","modified_gmt":"2026-02-20T14:20:50","slug":"enterprise-risk-management-process","status":"publish","type":"page","link":"https:\/\/www.purdue.edu\/ia\/erm\/enterprise-risk-management-process\/","title":{"rendered":"Enterprise Risk Management Process"},"content":{"rendered":"
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ERM Process<\/h1>\n
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<\/p>\n\n\n\n

Enterprise Risk Management (ERM) at Purdue University is a continuous risk assessment process that includes identification, prioritization and mitigation of material risks facing the University\u2014all in a manner designed to preserve resources, maintain financial integrity, promote physical safety and information security, and risk transparency.<\/p>\n\n\n\n

The ERM team acts in a support role, centralizing risk information and helping risk owners enhance means of identifying, qualifying, quantifying, measuring, monitoring, and mitigating key risks. The ERM team engages university leadership, faculty, and staff to further develop, articulate, and communicate an understanding of the University\u2019s risk landscape, risk profile and mitigation activity effectiveness based on the University\u2019s strategy and its external environment.<\/p>\n<\/div>\n\n\n\n

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<\/p>\n<\/div>\n<\/div>\n\n <\/div>\n<\/div>\n\n\n

\n\n \n
\n \"Identification\n
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Phase 1<\/h4>\n

Identification<\/h3>\n <\/div>\n

Identify\u00a0events or key risks based on the internal environment in which the unit\u00a0operates\u00a0and the alignment of its\u00a0objectives\u00a0with Purdue\u2019s strategic plan<\/p>\n <\/div>\n\n \n

\n \"Assessment\n
\n

Phase 2<\/h4>\n

Assessment<\/h3>\n <\/div>\n

Analyze the risk impact and likelihood of identified events based on risk tolerances (heat maps are typically utilized to depict this analysis) <\/p>\n <\/div>\n\n \n

\n \"Mitigation\n
\n

Phase 3<\/h4>\n

Mitigation <\/h3>\n <\/div>\n

Development of risk mitigation strategies or control activities<\/p>\n <\/div>\n\n \n

\n \"Monitoring\n
\n

Phase 4<\/h4>\n

Monitoring &
Communication<\/h3>\n <\/div>\n

Identification of successful strategies or course correction opportunities based on information, communication, and monitoring <\/p>\n <\/div>\n\n \n

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<\/h2>\n
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\n \"\"\n <\/figure>\n
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Training & Resources<\/p>\n

<\/p>\n <\/div>\n <\/a>\n <\/div>\n

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\n \"\"\n <\/figure>\n
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Frequently Asked Questions<\/p>\n

<\/p>\n <\/div>\n <\/a>\n <\/div>\n

\n \n
\n \"Student\n <\/figure>\n
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Glossary<\/p>\n

<\/p>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

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<\/h2>\n
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<\/p>\n\n <\/div>\n <\/div>\n

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\n \"\"\n <\/figure>\n
\n

Purdue University\u2019s Enterprise-wide Hotline<\/p>\n

Purdue University is committed to providing an environment where individuals may report, in a simple anonymous way, suspected fraud; waste; issues of academic integrity or scholastic misconduct; misuse of University assets; or regulatory noncompliance. If you are a victim of sexual assault, dating violence, domestic violence, or stalking and would like to speak with a crisis counselor, please call the Center for Advocacy, Response, and Education (CARE) 24-hour confidential hotline at 765-495-CARE (2273).<\/p>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Phase 1 Identification Identify\u00a0events or key risks based on the internal environment in which the unit\u00a0operates\u00a0and the alignment of its\u00a0objectives\u00a0with Purdue\u2019s strategic plan Phase 2 Assessment Analyze the risk impact and likelihood of identified events based on risk tolerances (heat<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-24","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nEnterprise Risk Management Process - Enterprise Risk Management<\/title>\n<meta name=\"description\" content=\"The ERM team acts in a support role, centralizing risk information and helping risk owners enhance means of identifying, qualifying, quantifying, measuring, monitoring, and mitigating key risks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.purdue.edu\/ia\/erm\/enterprise-risk-management-process\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Process | Enterprise Risk Management\" \/>\n<meta property=\"og:description\" content=\"The ERM team acts in a support role, centralizing risk information and helping risk owners enhance means of identifying, qualifying, quantifying, measuring, monitoring, and mitigating key risks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.purdue.edu\/ia\/erm\/enterprise-risk-management-process\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterprise Risk Management\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-20T14:20:50+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.purdue.edu\/ia\/erm\/enterprise-risk-management-process\/\",\"url\":\"https:\/\/www.purdue.edu\/ia\/erm\/enterprise-risk-management-process\/\",\"name\":\"Enterprise Risk Management Process - 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